Lahore, May 26, 2016 (PPI-OT): The Lahore Chamber of Commerce and Industry has urged the Punjab government to withdraw its recently imposed Punjab Infrastructure Development Cess (PIDC) as it would have economically devastating results and force businesses to move out of Punjab.
In a statement issued here, the LCCI President Sheikh Muhammad Arshad said that Punjab government has imposed Punjab Infrastructure Development Cess (PIDC) on goods imported and cleared on dry ports of Punjab on the pretext to provide resources for maintenance, development and improvement of infrastructure required to cater for load of goods traffic and to deal with other purpose but ground realities are quite different.
Sheikh Muhammad Arshad said that imposition of this Cess is discriminatory and will further burden up existing taxpayer instead of broadening tax net. He said that after imposition of Punjab Infrastructure Development Cess, businessmen would start clearing their consignment in other provinces to avoid this tax which would not only hurt businesses of clearing agents and transportation companies that provide employment to thousands but would also cause huge damage to the provincial kitty.
The LCCI President said that Punjab Infrastructure Development Cess is an indirect tax as it will be charged on movement of goods including raw materials cleared on dry ports of Punjab and will ultimately prove to be an impediment to economic growth of the province.
He said that trade and industry would be hit by the move and it would result in increased input cost. He said that businessmen are already coping with a number of internal and external challenges while Punjab Infrastructure Development Cess would further add to their miseries. He said that Punjab Infrastructure Development Cess would also give an impression that business atmosphere in Punjab is not favourable.
The LCCI President said that businessmen of Punjab should be given some breathing space to supplement the Punjab government efforts aimed at economic revival of the province. He said that at present when businessmen of Punjab are trying to play their best for progress and prosperity of the country, they need a helping hand from the Punjab government.
He said that there is a dire need to avoid new levies like Punjab Infrastructure Development Cess as they are not in a position to bear more burden. Sheikh Muhammad Arshad hoped that Chief Minister would take up the matter personally and withdraw Punjab Infrastructure Development Cess act to in the larger interest of the business community.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan